Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: KuCoin against Hotstuff−0.067%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. KuCoin is 0.067% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 30 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	791.77	−0.0080	get 0.0010% / 1h	13m 13s	$4K	$239	25x
Short	KuCoin BNBUSDTM	791.24	0.0100	get 0.0100% / 8h	5h 13m	$27.8M	$10.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hotstuff. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HotstuffbpFee KuCoinbpOrdersPrice spread, now −0.067%Rate

Funding earned: $37.8
Price spread: −0.067% → 0.000%: −$6.69
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $14.11
Costs to cover: 0.170%
Break-even: 4.4 days

Slippage unknown: Hotstuff: no order-book sample; KuCoin: live order book, 6 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hotstuff no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 6 min ago	0.38 bp	12.6 bp −$13	20.4 bp −$204	doesn't fit	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BNB/USD [WBTC.b-USDC]	L −0.0167% / S +0.0335%	1h	791.13	−0.081%	$46K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	791.77	long leg	$4K	$239	25x
StandX BNB-USD	0.0000%	1h	792.14	+0.047%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.14	−0.079%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.682%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.033%	$615K	$1.8M	50x	as long as short
Aster BNBUSDT	+0.0051%	8h	791.74	−0.004%	$6.2M	$18.7M	200x	as long as short
Phemex BNBUSDT	+0.0057%	8h	791.56	−0.027%	$69.3M	$50.5M	50x	as long as short
BingX BNB-USDC	+0.0061%	8h	791.38	−0.049%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0074%	8h	791.90	+0.016%	$80.4M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0074%	8h	791.49	−0.035%	$494.5M	$792.1M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.11	−0.084%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.36	−0.051%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.15	−0.078%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.30	−0.059%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	792.00	+0.029%	$52.0M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.59	−0.022%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.90	−0.110%	$139.2M	$77.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.80	−0.123%	$53.7M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.60	−0.021%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.25	−0.066%	$35.4M	$57.3M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	791.24	−0.067%	$27.8M	$10.3M	75x
Bitget BNBUSDT	+0.0100%	8h	790.70	−0.135%	$77.0M	$29.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.31	−0.058%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.90	+0.016%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	792.20	+0.054%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	792.06	+0.037%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.27	−0.063%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.35	−0.053%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.02	+0.032%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.30	−0.059%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.67	−0.013%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.08	+0.040%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.80	−0.123%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.13	−0.081%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	792.24	+0.059%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0145%	8h	792.50	+0.092%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	791.80	+0.004%	$83K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0194%	8h	791.97	+0.025%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0205%	1h	791.84	+0.009%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	791.94	+0.021%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.58	−0.024%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	791.09	−0.085%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.70	−0.009%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.052%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	791.61	−0.020%	$68K	$38K	12x	as long as short